Thailand’s Board of Investment (BOI) has seen a significant increase in foreign investment, with a 43% rise in investment value, and China emerging as the largest source of FDI applications. Key sectors driving growth include electrical appliances, electronics, and automotive industries.
The Thailand Board of Investment (BOI) Increase
The Thailand Board of Investment (BOI) has experienced a significant increase in project applications and foreign direct investment (FDI) in the first nine months of 2023. The BOI saw a 43% rise in investment value with China emerging as the largest source of foreign direct investment applications.
Strong Growth in Targeted Industries
The targeted industries, particularly the electrical appliances and electronics sector, have shown strong growth, accounting for 51% of total investment applications. The BOI is actively working to improve the investment climate in Thailand by addressing regulatory hurdles and providing enhanced incentives for the automotive industry to promote automation and the transition to electric vehicles.
Top Sources of Foreign Investment
China emerged as the largest source of FDI applications, contributing 24% of the FDI value, with a total investment pledge of 97.4 billion baht for 264 projects. Singapore ranked second with 133 projects representing combined investments of 80.2 billion baht, while Japan secured the third position with 176 projects worth 43.1 billion baht in investments.